The TRUTH About GOLD Buying and Selling at A Coin Shop

Рет қаралды 11,164

Ай бұрын

Gold buying and selling is a huge part of any coin shop's business. Precious metals sales have surpassed numismatics sales in the coin shops I visit, and believe me- I visit a lot of shops. In this video, my friend Russ explains how gold is bought and sold at his shop in Chicago. Harlan J. Berk is the nation's oldest coin shop. Russ is very honest when describing the business model and at one point he broke my heard during the filming of this video. Don't worry! I'll recover in time for my next precious metals and numismatic auction. Click below for details. As always, THANKS FOR WATCHING!
~ T the Silver Stacker
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Harlan J. Berk
31 N. Clark St.
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Phone: (312) 609-0016
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Disclaimer: T the Silver Stacker LLC video's typically consist of conversations surrounding education regarding and the acquisition of, but not limited to the following: silver, gold, platinum, silver coins, generic silver rounds, collectible silver rounds, fractional gold coins, pre-33 gold coins, ancient coins, American Silver Eagles, Perth Mint Coins, Mexican Silver Libertads, Fractional Libertads, Proof Libertads, Mexican silver Onzas, junk aka constitutional silver, silver bars, vintage silver rounds, platinum, vintage silver bars, Morgan Dollars, Peace Dollars, paper currency, coin collecting in general, silver spot price, gold spot price, coin shops, coin dealers, coin shop videos, how to sell silver, how to sell gold, and more. Please understand that although the conversation frequently touches on the state of the economy and how it affects the accumulation of precious metals (stacking), T the Silver Stacker is no way shape or form a financial advisor. Glean what you will from the silver stacking philosophy shared, but ultimately the viewer is responsible for making their own decisions. This video was conducted on behalf of Atha Energy Corp, and was funded by Gold Standard Media LLC and/or affiliates. For our full disclaimer, please visit: portal.goldstandardir.com/dis.... Some of the links in this description are affiliate links that provide me a very small commission at no additional charge to those who use them.
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Пікірлер: 88

@TtheSilverStacker Ай бұрын

Want to join Whatnot and participate in my next auction? Use this link to receive $15 off your first purchase: whatnot.com/invite/t_the_silver_stacker

@martinrev8487 24 күн бұрын

I almost bought one of those 10g fakes in private sale year ago. Thank god I had a Sigma Precious Metal Verifier. It paid for itself that day.

@TtheSilverStacker 23 күн бұрын

Sigma for the save!

@SalivateMetal Ай бұрын

Great discussion with Russ. One of my favorites of LCS folks you interview. I gotta say that just as soon as Russ showed those gold bars, I knew in an instant they were fake by the shadow and high high the bars sat on the assay card. That is the first thing you should look for when spotting fake gold in assay cards is the thickness. If it's too thick, you MUST acquit! Don't buy them. I saved my LCS thousands of dollars when they almost bought a couple one ounce bars like this.

@TtheSilverStacker Ай бұрын

Ooh, I hope they gave you a good deal that day. I know of a shop (one that you’ve seen on my channel) that had a staff member take in two fake ounces of silver one time. Ouch!

@bigdaddyhoffman1911 29 күн бұрын

Very good content T......Enjoyed.👍 Life is good.....God Bless

@TtheSilverStacker 29 күн бұрын

Thanks buddy! More good stuff to come!

@TuliTuli_ Ай бұрын

Can’t wait! 🤍

@TtheSilverStacker Ай бұрын

: )

@roncasa55 Ай бұрын

Broke my heart that the $50 pesos were melted, I would have bought some at melt...no..no..😕

@TtheSilverStacker Ай бұрын

I’d buy one if I could afford it.

@AnTcAsT2 Ай бұрын

No way they melted those 😢😢😭😭. How ? What? Couldn’t they sell to another coin shop or call up T lol.

@TtheSilverStacker Ай бұрын

I wish I could afford one!

@72cmcinc Ай бұрын

Great content and great buys, looking forward to the next story!

@TtheSilverStacker Ай бұрын

More to come!

@UnspokenWords2010 21 күн бұрын

Damn that's my dream coin too

@tedlov06 Ай бұрын

Great video. Thanks for sharing T👍

@TtheSilverStacker Ай бұрын

Thanks for watching!

@ee233 Ай бұрын

This is a great vid T thankyou.

@TtheSilverStacker Ай бұрын

Glad you enjoyed it!

@tom_morgandealer_pgh1648 Ай бұрын

They didn't need to melt those. If they get coins like that that don't sell high the play is to bulk them and sell at shows or online.

@themillennialnumismatist Ай бұрын

It really isn’t that easy unfortunately. 20 50 pesos is almost $56,000. Cash flow is important and we can’t just hold onto everything, especially slow sellers. Online is also tough because of fees, shipping, fraud and competing with guys like APMEX. We may be a big dealer but operations like that can always undercut us.

@TtheSilverStacker Ай бұрын

I think Russ explained it pretty well.

@glenvilleashby2872 Ай бұрын

Great video! Very engaging !

@TtheSilverStacker Ай бұрын

Glad you enjoyed it!

@tonymccauslin4577 Ай бұрын

What is this? T with a cliffhanger…😱 Nice pickups for the auction. See you there!

@TtheSilverStacker Ай бұрын

More interesting content to come!!

@simplehillbilly5852 Ай бұрын

What an amazing shop hope one day to check it out

@TtheSilverStacker Ай бұрын

You should! Tell ‘em T sent ya!

@LtColonelUSMCret 28 күн бұрын

Just subscribed - great video

@TtheSilverStacker 27 күн бұрын

Awesome, thank you! More to come!

@arte9855 Ай бұрын

Luke any reseller. Its like the inventory gets dropped at the hub and distributed to the spokes...some spoke are more connected than others.

@TtheSilverStacker Ай бұрын

True!

@AL95621 Ай бұрын

People don’t realize how much material is melted I’m in the UK and I’ve seen MS 70 full sovereigns getting cracked out the slabs recently about 5 of them. I’m not a fan of slabbed coins so passed on spot price.

@Tim99-lg7kn 23 күн бұрын

They're going to give you $10 under melt😂😂😂 how does it feel to be on the other side😂😂😂

@alexblue6991 28 күн бұрын

I bought a half gold sovereigns just before lockdown for £200 now in the same shop the same type of coin £280

@christianmuller292 25 күн бұрын

There are plenty of buyers on the internet ready to buy from outside a coin shop. You win and they win not the in-between man.

@noicue8078 Ай бұрын

Hello Mr. Bega, you mentioned about you shot those bars. Where can I go or what kind of establishment can I go to if I wanted to check out some coins or jewelry? Thank you for your time. 👍

@TtheSilverStacker Ай бұрын

Try your LCS.

@jaredroussel 25 күн бұрын

That's a desecration! Those 37.5g Centenarios are beautiful!

@fareast_de Ай бұрын

Bummer to hear that the Mexican 50 Pesos have been melted. But hey, Harlan J. Berk are professionals, so I assume that they just took the restrikes. Yup, these Australian counterfeits...you really need some "cojones en tus pantalones" offering them at a pawn shop if you know they are fake. Saludos desde Alemania, U.

@TtheSilverStacker Ай бұрын

Lmao! I’m going to use that phrase!

@dleetr 27 күн бұрын

wow, a sheet of maple grams for 10% over. Nice. I need a proper LCS.

@Prethen Ай бұрын

Also, it would have been good to see the fake bars closer up, especially the edge and see some of the exact off-details he was mentioning. I'm guessing the edges were a bit too thick.

@TtheSilverStacker Ай бұрын

Next time.

@Prethen Ай бұрын

I'm curious if all of the 50 peso melts the 1947 restrikes? The other years are a bit more desirable (in theory).

@themillennialnumismatist Ай бұрын

All were re strikes, fear not

@TtheSilverStacker Ай бұрын

I believe they were restrikes.

@EddieP.. Ай бұрын

Thats unfortunate on the 50 pesos. I hope they at least were restrikes and not any other years😢

@TtheSilverStacker Ай бұрын

Agreed

@wpnmstrmk4484 Ай бұрын

Could care less about the 50.00 Pesos, but never melt Libertads!

@TtheSilverStacker Ай бұрын

Agreed!

@bobbiholliday5961 Ай бұрын

Last year in Florida. I found a 10 gram valcambi for about spot. They showed up. Looking to make some quick cash. Little did they know . I already owned a real one with receipt. It was a very good fake. No noticable difference . But was thicker. Enough to notice big time. If id not had have my real one I'd had bought it for under spot no problem. The guys selling were terrible actors. But departed with no issues. They even asked if I thought craigslist would be better to sell than marketplace, no shit

@TtheSilverStacker Ай бұрын

I’ve heard from several viewers that the thickness is a giveaway. Thanks for sharing!

@bullionaddict9164 Ай бұрын

To be continued 😱🤔😎🤷

@TtheSilverStacker Ай бұрын

More content coming…

@billfraser9731 Ай бұрын

why dont you offer prices online better than wholesale

@TtheSilverStacker Ай бұрын

Huh?

@jimgoodreau1245 Ай бұрын

Gold always gets melted! It's dollars people need!

@TtheSilverStacker Ай бұрын

It breaks my heart. Ha ha

@Wes_Stacks. 27 күн бұрын

Melt it all

@andrewkolb6309 Ай бұрын

Damn what a SHAME to think the 50 Peso got melted down I know a ton of people who love the coin and is highly collected I for one will probably Never do business with this shop it just infuriates me that coins get melted same with the 90% Silver such a travesty!!

@themillennialnumismatist Ай бұрын

Sir, this is a very standard industry practice. If I could have sold them to a retail customer I would. The market unfortunately is what it is and I have 13 employees to pay.

@jimgoodreau1245 Ай бұрын

Thay got melted because nobody pays over melt! Thay will be reborn!

@andrewkolb6309 Ай бұрын

Like I said I won't do business with your shop!

@themillennialnumismatist Ай бұрын

@@andrewkolb6309I’m sorry you feel that way. We do our very best for everyone but at the end of the day we’ve been in business for 60 years for a reason and losing money on 50 peso restrikes would hurt us.

@TtheSilverStacker Ай бұрын

We need to do a video on restrikes!

@jasonmoad9784 Ай бұрын

Those bars are useful to fool criminals who want to rob u of your stack😂. Just leave this out on a trophy’s stand and they’ll think they scored👍🏻🇺🇸🇺🇸🇺🇸

@TtheSilverStacker Ай бұрын

Ha! Never thought of that!